Prices in high-growth sector 'elevated': Pro

Monday, 21 Jul 2014 | 12:17 PM ETReuters

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William 'Will' Danoff

Portfolio manager Will Danoff, who oversees $110 billion in Fidelity Investments' Contrafund, warned that "elevated valuations" were lurking in the high-growth sector of the stock market, causing more risk for investors.

"We are growing more selective in the high-growth parts of the market, where we see more risk due to elevated valuations," Danoff said in a commentary letter for the second quarter.